good evening MASTER N all blogmatesNIFTY IN RED --MY ACCOUNT IN GREEN THANK YU MASTER --for the insight you gave me
Master, WLEMA is 6007 as Low of the week is 5973?
Dear Hitendra,Friday, November 22, 2013Nifty Pre-Market View.BankNifty shows a 5-wave "being" completed. Similar observations could be made for Nifty too.This being a simple observation of pattern, the corrective rise for the 5 wave could take many forms such as a flat, zigzag or even a running correction.Trend being strongly down, DLEma & WLEma are the key numbers for the day.Immediate resistances are the running correction zone of "iv"th wave @ 6027-55.Immediate support for "v", in case trades below "6031" @ open is "5957-68".Failure to find a ST bottom @ 5946(golden retrace) would indicate weakness towards 200dsma(5862) & lower..
@ Prakash,Week Low EMA of 6007 was for the Week ending 14th November.Week Low EMA of 5995 is for the week ending 22nd November.Raghavendra
Namaste Ilango Sir & Blogmates, Bearish: The CE writers have taken a vice like grip on the Option table with 6200 for the time being looks impossible for the bulls to scale this series, a corrective rally though may be seen...: Option Analysis for 22-11-2013Dedicated Option Open Interest BlogDuplicated at Wordpress SiteThanks & Regards,Sanjay Kr Jaiswal